Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gizmoh]

Dubai could have 400 fully operational Bitcoin ATMs in the next two weeks --> http://bitcoinexaminer.org/dubai-400-fully-operational-bitcoin-atm-two-weeks/?utm_source=twitter

SELL!! SELL!! Bitcoin is over!! We are going to $100!! Poor bears

This news is old and fake.  

http://www.coindesk.com/ded-officials-debunk-bitcoin-atm-speculation-dubai/

Yes Better Sell now! Sub 500 soon..

[1714922965]

1714922965

[1714922965]

1714922965

[1714922965]

1714922965

[rjp55]

Weak hands being shaken out before the rally.

[N12]

Dubai could have 400 fully operational Bitcoin ATMs in the next two weeks --> http://bitcoinexaminer.org/dubai-400-fully-operational-bitcoin-atm-two-weeks/?utm_source=twitter

SELL!! SELL!! Bitcoin is over!! We are going to $100!! Poor bears

This news is old and fake. 

http://www.coindesk.com/ded-officials-debunk-bitcoin-atm-speculation-dubai/

Yes Better Sell now!

Fearlessness, Certainty and Belief.

[JayJuanGee]

I would NOT call any body stupid or their actions stupid b/c of religion

Joining cults isn't an issue of intelligence. It's more a reflection of emotional health vs injury.

Yes, but frequently religion, cultish beliefs or behaviors and/or superstitions are so ingrained into people's upbringing that I find it very difficult to blame them for it... especially, NOT right off the bat.  Now, if I engage with someone for a while, and they persist with certain kinds of idiocracy, then I may choose to engage them on the topic.. it depends upon the circumstances.. sometimes, it may be better just to live and to let live, rather than to engage (that goes for sex, politics and religion - and possibly some other personally sensitive topics, as well - eg. .. feelings about bitcoin.. hehehe.. just kidding..    )

[JayJuanGee]

Bitcoin cultists accusing religious people of being cultists? At least when it comes to religion, people are usually indoctrinated from birth and have massive social pressures (there are hardly people who convert). Now becoming a cultist of your own free will, that's something else.

Here we go again with these bullshit assertions that bitcoin believers or enthusiasts are some how engaging in religious and/or cultish behaviors....

You are ridiculous Blitz.. to be coming up with and spreading this baloney.. and you are supposed to be a moderator, no?  That's what it says next to your name... and avatar...

By the way Blitz... since you are a moderator and in the "know,"  can you make it so that I can have an avatar too?  (after I just insulted you... he he hehe?    )

Also, I don't think there is any disadvantage in investment being Muslim, what does it matter if he gets 0% instead of 1% interest? Nothing.

HELLO!!!!!

Even though 0% and 1% were presented as current potential bank interest rate options, NO one, with any kind of financial astuteness above the level of a drunken teenager, should reasonably be considering keeping large sums of moneys in any bank account(s) for two years.. that seems to be very financially irresponsible, unless there is some kind of explanation concerning why that seems to be a necessary or prudent course of action.

[JayJuanGee]

Even here we are talking about religion. FML.

Religion=hate spreading
Religion=war
religion=racism.

Making choices based on religion on a stock/crypto market, that is a whole New level of stupidity.

Goodluck going bankrupt.

Small hint: religion has brought shit for hundreds of years, that wont change a bit

Small hint: today's religion is the idolatry of money. Printing money may have caused more death than any religion. During the 20th century, if we wouldnt have been off the gold standard, we would have had way shorter wars, way less debt and way less environmental problem.

People have been bashing religion since the 19th century. It's old news. Its not a rebel act anymore. Everyone is doing it.

You are engaging in very fuzzy logic if you are attempting to equate the pursuit of money as if it were a religion - even though both may share some components...   You are simply over-simplifying the matter.

[N12]

I won't get tired of posting this: http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

As for the avatars, If I remember correctly, it's been disabled for security reasons since the last time the forum was breached. I don't know if it will be re-enabled before the new forum software comes, theymos said it's low-priority.

Even though 0% and 1% were presented as current potential bank interest rate options, NO one, with any kind of financial astuteness above the level of a drunken teenager, should reasonably be considering keeping large sums of moneys in any bank account(s) for two years.. that seems to be very financially irresponsible, unless there is some kind of explanation concerning why that seems to be a necessary or prudent course of action.

Liquid cash can be pretty useful at times, noone's saying to hold the majority of your wealth there.

[justusranvier]

I won't get tired of posting this: http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

I won't get tired of posting this: http://21stcenturywire.com/2014/02/25/snowden-training-guide-for-gchq-nsa-agents-infiltrating-and-disrupting-alternative-media-online/

[fonzie]

PUMP IT - 600$ you can do it!

[mmitech]

Bitcoin cultists accusing religious people of being cultists? At least when it comes to religion, people are usually indoctrinated from birth and have massive social pressures (there are hardly people who convert). Now becoming a cultist of your own free will, that's something else.

Here we go again with these bullshit assertions that bitcoin believers or enthusiasts are some how engaging in religious and/or cultish behaviors....

You are ridiculous Blitz.. to be coming up with and spreading this baloney.. and you are supposed to be a moderator, no?  That's what it says next to your name... and avatar...

By the way Blitz... since you are a moderator and in the "know,"  can you make it so that I can have an avatar too?  (after I just insulted you... he he hehe?    )

Also, I don't think there is any disadvantage in investment being Muslim, what does it matter if he gets 0% instead of 1% interest? Nothing.

HELLO!!!!!

Even though 0% and 1% were presented as current potential bank interest rate options, NO one, with any kind of financial astuteness above the level of a drunken teenager, should reasonably be considering keeping large sums of moneys in any bank account(s) for two years.. that seems to be very financially irresponsible, unless there is some kind of explanation concerning why that seems to be a necessary or prudent course of action.

Ok, you think you got it all figured out but you have no fucking idea of what you are talking about ( at least in my case)..... I don't know how old you are or what kind of a life you have but when you have a family and kids you tempt to chose the safest way to make sure they will have a roof and food and a good education for as long as you can... now if you think leaving potential profits in a high risk investment like Bitcoin without making any risk management is the way to go then you do it, I believe otherwise.


I didn't invest the first time I knew about Bitcoin it took me a while to understand what the hell it is and to be honest I didn't invest because of the technology, I didn't give a fuck about it, I invested (risked my initial investment) because of the fair potential of making huge profits out of it, it seemed like free money for me.


now in case Bitcoin will fail which is possible I will have some time to figure out things before it is all fucked up, if you have all your funds in Bitcoin and no liquid cash in the bank then good luck if anything wrong happens, in fact I always keep enough cash in my bank account just in case, but IMHO investing all your funds in stocks and metals... and being over optimistic about it is just stupid.


beside, invest only what you can afford to lose, at this point I would hate my self if I lost 100% instead of 50% got it now ? risk management...

[JayJuanGee]

.................

. but you do NOT really  have much of a plan for where you are going

wtf? he is running to the hills, why so annoying?

morrowind, elder scrolls?

get a life.

He said that he cashed out half of his BTC yesterday b/c he has a plan to play with the proceeds for two years.  I said that his plan seems to be very short sighted, especially given the likely direction of BTC in the next six months.  Therefore I asked him where he planned to put his investments, and he failed/refused to answer, and instead stuck to his original framing about how wonderful he is., etc etc etc.. for making so much money, while he left quite a bit on the table through neglect and/or lack of foresight, so it seems.

other posters mentioned morrowind and elder scrolls.... b/c I do NOT know WTF are morrowind and elder scrolls... even though those topics may be relevant.  


Regarding, "get a life"  Yes, we each have lives and we choose how to spend our lives, and part of my life, at the moment includes posting on this forum and responding to relevant issues... and attempting to contribute to the forum (thread) in a productive direction.

I have it in my bank account where I pay my bills and pay for goods with €....  

The best of my current bank accounts only pays about 1% interest, and possibly you could get 3 or 4% if you have some kind of premium bank account and if that is what floats your boat, then who am I to say?

BTW, I dont take the interest that the bank gives me, this is against my believes and it is called riba

Pretty stupid of you.

yea sure, being Muslim is stupid

I would NOT call any body stupid or their actions stupid b/c of religion, yet Gingermod seems to make a point (whether sufficiently sensitive or NOT).

I suppose that distinctions can be made - however, investing into bitcoin involves many similar financial principles as loaning money, especially given its limited supply.  You buy 100 BTC in 2012 for $10, and then you sell them in 2014 for $600.  The value of BTC has appreciated.. and can be considered a form of interest-1 that is shared by the whole BTC community.

Anyhow, it does seem like your religion may be affecting your considerations (in possibly internally contradicting ways), and maybe also that is part of the reason that you are reluctant to get into specifics concerning your having had cashed out half of your stash to cover a two year period of time, when likely more financially prudent approaches could have been made and or considered.

Also, I am speculating somewhat that your religion may be causing you to fail and/or refuse to make some detailed and potentially internally contradictory analysis regarding your financial planning concerning bitcoin. -2

Again, that is for you to decide those boundaries; however, when you are posting on a board like this, hopefully you realize that many of us are considering these matters without RIBA type influences in our analyses (and investment considerations).

1- nope, you are wrong that is called supply and demand and not interest.

 interest is when you need $100K to buy a house and I agree on giving you a loan with a condition to give me back $120K... the 20K is interest and I don't believe in it, what I could do is to buy the house and give it  in a lease way, so you live in it while I am the owner for the next 20-25 years until you pay your debts and become the owner. and this is where leasing come from BTW.

It is NOT likely that we are going to agree on these various intellectual distinctions that you want to make in order to rationalize your behavior.  In the end, you have your various values and your various ways of conceiving your values and how to consider whether your money is appreciating or depreciating in value and whether that methodology is acceptable for you. 

Ultimately, it would probably be a big waste of time for us to attempt to sort this kind of thinking out and to make these kind of distinctions in this thread b/c these kinds of distinctions would probably confuse various readers (including  ourselves) beyond any utility that we may gain to better understand what we personally should do in order to apply an acceptable financial model or strategy for investing our money into various assets or asset classes.

2-I firstly use my logic and then the values that I took from my religion ( I am not a Muslim fanatic BTW, I am far from being a Muslim when it comes to sharia but I still have many values from being an Arab Muslim ) 

Surely, each of us have various religious and/or ethical and/or perceived legal boundaries that will cause us to place limits on how far we will go to personally profit.. or whether we attempt to manipulate or influence the behavior of others or to merely make ourself (ves) as a role model for others to emulate.  To the extent that you are allowing various kinds of beliefs about the impropriety of earning interest or participating in forms of usury, these kinds of concepts and limitations seem to be much beyond the considerations of a lot of others participating in this thread and forum.  Surely, you can apply these kinds of concepts to yourself and proclaim to your self that you are a moderate all that you want; however, if you are incorporating these ideas into your approach(es) about bitcoin and/or your future planning concerning your bitcoin proceedings, it seems likely that most people here are going to be merely distracted by these kinds religious limitations concerning interest and whether one kind of investment is ok .and another kind of investment is NOT., based on religious beliefs...   In my humble bumble opinion, that just seems too personal to be muddying up the thread with those kinds of personal considerations.

[mmitech]

Even here we are talking about religion. FML.

Religion=hate spreading
Religion=war
religion=racism.

Making choices based on religion on a stock/crypto market, that is a whole New level of stupidity.

Goodluck going bankrupt.

Small hint: religion has brought shit for hundreds of years, that wont change a bit

Small hint: today's religion is the idolatry of money. Printing money may have caused more death than any religion. During the 20th century, if we wouldnt have been off the gold standard, we would have had way shorter wars, way less debt and way less environmental problem.

People have been bashing religion since the 19th century. It's old news. Its not a rebel act anymore. Everyone is doing it.

You are engaging in very fuzzy logic if you are attempting to equate the pursuit of money as if it were a religion - even though both may share some components...   You are simply over-simplifying the matter.

see, what he said is right, now religion was and still is the biggest reasons for wars and issues, I agree on that but if a war is financed based on what you own and not a on debt philosophy ( printing money from thin air) the world would look better today and many lives wouldn't be wasted on stupid religious issues.

[BldSwtTrs]

This is a nice read for those who do not grasp the issue of concentration of power into one mining pool.

http://hackingdistributed.com/2014/06/13/time-for-a-hard-bitcoin-fork/

This is try #2 for them.

Their only chance of getting it right for once is via the stopped clock effect.

Note that their first attempt was an even more blatant market manipulation scheme.

Can you please explain why they are wrong?

To me it seems they make good points, but I am ready to learn more.

[JayJuanGee]

This is a nice read for those who do not grasp the issue of concentration of power into one mining pool.

http://hackingdistributed.com/2014/06/13/time-for-a-hard-bitcoin-fork/

Excerpts:

But the fact is, this is a monumental event. The Bitcoin narrative, based on decentralization and distributed trust, is no more. True, the Bitcoin economy is about as healthy as it was yesterday, and the Bitcoin price will likely remain afloat for quite a while. But the Bitcoin economy and price are trailing indicators. The core pillar of the Bitcoin value equation has collapsed.

Worse, GHash has a well-known track record of actually engaging in double-spend attacks even when they did not command a majority of the hashing power. GHash used its hashing power to attack a gambling site that accepted 0-confirmation transactions. In essence, they would make a bet, as in red-or-black in roulette, and if the virtual roulette wheel spin came out the wrong way, they would cancel their losing bet and place a new one. This is outright theft: GHash stole from a gambling operator.

Even though the article appears to be pretty well written, the whole concept seems like the attempt to spread FUD and to place way too much weight on some kind of dark cloud that could exist, but is unlikely to exist in the real world.


Accordingly, Gizmoh, are you selling all your bitcoins while the price is in the $560s or are you just going to hang out here for a while (maybe a year or two) and edumacate us regarding the inevitable downfall of bitcoin (while the prices are going up.... hopefully, soon)?  Oh.. and Gizmoh.. .dont miss out on the next buying opportunity created from this various FUD spreading... so then maybe you can sell at $1k or $2k rather than selling at $560.

Probably, we are NOT getting rid of you soon...  That's too bad...   

[JayJuanGee]

This is a nice read for those who do not grasp the issue of concentration of power into one mining pool.

http://hackingdistributed.com/2014/06/13/time-for-a-hard-bitcoin-fork/

Excerpts:

But the fact is, this is a monumental event. The Bitcoin narrative, based on decentralization and distributed trust, is no more. True, the Bitcoin economy is about as healthy as it was yesterday, and the Bitcoin price will likely remain afloat for quite a while. But the Bitcoin economy and price are trailing indicators. The core pillar of the Bitcoin value equation has collapsed.

Worse, GHash has a well-known track record of actually engaging in double-spend attacks even when they did not command a majority of the hashing power. GHash used its hashing power to attack a gambling site that accepted 0-confirmation transactions. In essence, they would make a bet, as in red-or-black in roulette, and if the virtual roulette wheel spin came out the wrong way, they would cancel their losing bet and place a new one. This is outright theft: GHash stole from a gambling operator.

I was led to believe by the starry-eyed bull tards that it's all nothing but FUD.

Hey Blitz.... I am very excited to notice that you got rid of that misleading definition of FUD from your signature ... that is great!!!! 

In order that we can better understand the meaning of your statement, above, are you now back to using the commonly accepted meaning of FUD?  That is "fear, uncertainty and doubt"?

[mmitech]

2-I firstly use my logic and then the values that I took from my religion ( I am not a Muslim fanatic BTW, I am far from being a Muslim when it comes to sharia but I still have many values from being an Arab Muslim ) 

Surely, each of us have various religious and/or ethical and/or perceived legal boundaries that will cause us to place limits on how far we will go to personally profit.. or whether we attempt to manipulate or influence the behavior of others or to merely make ourself (ves) as a role model for others to emulate.  To the extent that you are allowing various kinds of beliefs about the impropriety of earning interest or participating in forms of usury, these kinds of concepts and limitations seem to be much beyond the considerations of a lot of others participating in this thread and forum.  Surely, you can apply these kinds of concepts to yourself and proclaim to your self that you are a moderate all that you want; however, if you are incorporating these ideas into your approach(es) about bitcoin and/or your future planning concerning your bitcoin proceedings, it seems likely that most people here are going to be merely distracted by these kinds religious limitations concerning interest and whether one kind of investment is ok .and another kind of investment is NOT., based on religious beliefs...   In my humble bumble opinion, that just seems too personal to be muddying up the thread with those kinds of personal considerations.

I didn't give any advice or any guidance about any investment, I decided upon my personal beliefs, but only when you insisted about knowing I told you, as far as I am concerned it is still a personal choice that somehow you don't like !!!! so next time you start writing about how my believes and my values and my personal choices doesn't fit your logic or the thread logic you must remember that they involves me and only me and they don't effect your life or the life of anyone except me.... got it ? this is where our freedom of choice comes from and no one should cross the lines. your freedom stops when others freedom starts.

[seleme]

.................

. but you do NOT really  have much of a plan for where you are going

wtf? he is running to the hills, why so annoying?

morrowind, elder scrolls?

get a life.

He said that he cashed out half of his BTC yesterday b/c he has a plan to play with the proceeds for two years.  I said that his plan seems to be very short sighted, especially given the likely direction of BTC in the next six months.  Therefore I asked him where he planned to put his investments, and he failed/refused to answer, and instead stuck to his original framing about how wonderful he is., etc etc etc.. for making so much money, while he left quite a bit on the table through neglect and/or lack of foresight, so it seems.

other posters mentioned morrowind and elder scrolls.... b/c I do NOT know WTF are morrowind and elder scrolls... even though those topics may be relevant.  


Regarding, "get a life"  Yes, we each have lives and we choose how to spend our lives, and part of my life, at the moment includes posting on this forum and responding to relevant issues... and attempting to contribute to the forum (thread) in a productive direction.

I have it in my bank account where I pay my bills and pay for goods with €.... 

The best of my current bank accounts only pays about 1% interest, and possibly you could get 3 or 4% if you have some kind of premium bank account and if that is what floats your boat, then who am I to say?

BTW, I dont take the interest that the bank gives me, this is against my believes and it is called riba

Pretty stupid of you.

yea sure, being Muslim is stupid

Yes you are an idiot.

Better being idiot than ginger though

[JayJuanGee]

For anyone that can understand Italian, here is a youtube of a bitcoin hearing by the Italian government.  I think the live part is over, but this just happened today.  If it still says "live" then you will need to rewind and skip the history part to get to the hearing.

Diretta canale satellitare della Camera dei deputati:
http://www.youtube.com/watch?v=Y5h-KfwC4aI

Can you say the overall punchline of it, especially since it is in Italian? 

Was the proceeding positive? 

Was it just gathering evidence for consideration of the government concerning future legislation?

Can you help us out a little with some kind of overview?

[meanig]

This is a nice read for those who do not grasp the issue of concentration of power into one mining pool.

http://hackingdistributed.com/2014/06/13/time-for-a-hard-bitcoin-fork/

Excerpts:

But the fact is, this is a monumental event. The Bitcoin narrative, based on decentralization and distributed trust, is no more. True, the Bitcoin economy is about as healthy as it was yesterday, and the Bitcoin price will likely remain afloat for quite a while. But the Bitcoin economy and price are trailing indicators. The core pillar of the Bitcoin value equation has collapsed.

Worse, GHash has a well-known track record of actually engaging in double-spend attacks even when they did not command a majority of the hashing power. GHash used its hashing power to attack a gambling site that accepted 0-confirmation transactions. In essence, they would make a bet, as in red-or-black in roulette, and if the virtual roulette wheel spin came out the wrong way, they would cancel their losing bet and place a new one. This is outright theft: GHash stole from a gambling operator.

I was led to believe by the starry-eyed bull tards that it's all nothing but FUD.

And in November 2013 I was led to believe by the douche who wrote the article (Emin Gün Sirer) that Bitcoin should be dead and buried by now.

Bitcoin is broken. And not just superficially so, but fundamentally, at the core protocol level. We're not talking about a simple buffer overflow here, or even a badly designed API that can be easily patched; instead, the problem is intrinsic to the entire way Bitcoin works. All other cryptocurrencies and schemes based on the same Bitcoin idea, including Litecoin, Namecoin, and any of the other few dozen Bitcoin-inspired currencies, are broken as well.

Specifically, in a paper we placed on arXiv, Ittay Eyal and I outline an attack by which a minority group of miners can obtain revenues in excess of their fair share, and grow in number until they reach a majority. When this point is reached, the Bitcoin value-proposition collapses: the currency comes under the control of a single entity; it is no longer decentralized; the controlling entity can determine who participates in mining and which transactions are committed, and can even roll back transactions at will. This snowball scenario does not require an ill-intentioned Bond-style villain to launch; it can take place as the collaborative result of people trying to earn a bit more money for their mining efforts.

http://hackingdistributed.com/2013/11/04/bitcoin-is-broken/

The guy has a history of spreading baseless bullshit to garner clicks. Just like the case of Professor Bitcorn, trolling Bitcoin seems to be good for an academic CV.

[ChartBuddy]

Explanation